In FLOW Price Prediction, Flow is a developer-friendly blockchain designed for the new generation of apps and games. It is a layer one blockchain designed by one of the greatest teams which created games like crypto kitties. It is designed from the ground up for mainstream adoption. It is a relatively new cryptocurrency but has gained strong adoption since then. They provide frictionless onboarding for their users, like logins, and allow them to use any wallet.
The network has a multi-role architecture with resource-oriented programming. The smart contracts on the network are written in Cadence, which is an easy language for developers. The network has the ability to handle high volumes without sacrificing scalability. FLOW has also gained significant traction in the NFT space. They have over 11k developers building on their network. They have over 20 M+ user accounts with over 360 million transactions in the network.
FLOW has a market cap of $902 Million and is ranked 53rd in the crypto-verse. The volume of the asset price has seen a drop of 48% in the intraday session. The V/M ratio of the asset price suggests a consolidated trend in price.
Is FLOW Ready For An Upside?
Source – TradingView
The weekly technical chart of the asset price hints at a struggle between the bulls and bears. The TVL of the asset has been consolidating and can see a rise in the future. FLOW is currently moving in a weak consolidated zone in the daily chart. It is trading near the value of $0.87, with a drop of 0.87% in the intraday session.
The upside trend of the asset price can see a halt near the value of $1. Meanwhile, the support of the asset price can be seen near $0.6.It is trading below the 50 and 100 Daily Moving Averages. It can act as a resistance in case of the upside momentum of the asset price.
The RSI of the FLOW is near 40, hinting at its presence in the neutral zone. There is no slope in it which suggests a consolidated trend in price.
Summary
FLOW has been seeing consolidation in its TVL, as per the data from Defilama. FLOW Price Prediction is currently consolidating but can see strong momentum in the future.
Technical Levels
Major Support:$0.6
Major Resistance:$1
Disclaimer
The views and opinions stated by the author or any people named in this article about FLOW Price Prediction: Will FLOW Hit The Floor Of $0.6? are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/05/05/flow-price-prediction-will-flow-hit-the-floor-of-0-6/